The price of Toncoin (TON), linked to Telegram, has been on a rising trend, indicating growing demand. The trend is backed by increased trading activity from whales, aiming to maximize potential profits.
Recent data shows a 46% increase in TON transactions worth $1 million to $10 million, while transactions above $10 million have grown by 50%. This rise is a bullish signal that could sustain the price rally as retail investors join in.
The netflow of large TON holders surged 431% over the past week, confirming heightened buying pressure from whales. This significant buying activity from holders controlling over 0.1% of TON's supply indicates a strong bullish sentiment.
Currently trading at $6.60, TON shows robust buying pressure. The MACD indicator confirms this bullish trend, with the MACD line above the signal line and close to crossing the zero line, suggesting the uptrend may continue.
If the buying momentum remains, TON could increase by 5% to reach $6.93, with the next target at $7.52. Conversely, if market sentiment turns bearish, TON's price could fall to $6.51.
